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, getting his gangnam on. our very own neil cavuto bringing his fiscal cliff news straight ahead. you're looking at gold, lots of it jumping into gold and silver% as a safe haven. actual bars of gold. help investors get in on the action. melissa: we have been talking about it on fox business, the next great government bailout. going to save the federal housing administration. time for stocks as with every 15 minutes, let's had before the new york stock exchange, nicole petallides standing by. down 13. nicole: this is one of those markets with a lot of anticipation. every focuses on the fiscal cliff. tomorrow is the all-important jobs report for a lot of folks have been hearing more economic news which has been more dismal lately. talk about more layoffs they have seen in november. right now the market is not too far off the unchanged line. the acidity holding 1400. the tech of the nasdaq still below 3000. today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. apple $700, 705 in september traded as low as 518 today. certa
raising the debt ceiling. lou: the fiscal cliff and now a new ultimatum on the national debt ceiling. you suppose this is the last condition? >> it's going to be a wild couple of months, maybe everybody thought with the election over, there was going to be peace and figure all of this out, but i think we're just at the beginning of a long protractive battle, lou. lou: more on the stalemate of the fiscal cliff, the impasse, and tell us what you think about the so-called negotiations. vote in tonight's online poll. do you agree president obama's ultimatum on higher taxes are actually the cause? make him responsible for driving us off the fiscal cliff? go to our to be page at facebook we'll have results at the end. chris and steven joining us here next to address that question and more. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho! [ malennouncer ] lease a 2013 e350 f $579 a month at your local mercedes-benz dealer. lou: hous
, dropping 7.7%. 6,000 new jobs added. far better than expectations but behind that number is the fiscal cliff. if congress doesn't act jobless unemployment benefits will go from a 72 week maximum down to 27 weeks. could that force a spike in the jobless rate again for 2013? joining us is todd schoenberger of wells fargo, senior economist. i know you were not thrilled with the numbers that came out today but you also have the issue of unemployment benefits and what that does to the economy. are you worried? >> you bet i am worried. if we leap off of the fiscal cliff you are looking at a minimum of 500,000 jobs eliminated and i am not talking low-wage jobs. i am talking about high five digit to six digit jobs. that will impact the overall economy. not just in the united states, also the global economy. you have to start looking at multinationals that trade on wall street. cheryl: some on the democratic side say they want to see unemployment extended for 200013. they argue it will hurt the economy if we don't extend unemployment. do you agree with that assumption? >> i don't think that is
money, and power. lou: the fiscal cliff looks bleak, no news, no deal, no urgency. >> the american people have to be scratching their heads, and wondering when is this president gointo get serious. lou: obama is serious about his ultimatum and demands to raise taxes, boehner said no new taxes, obama can have his tantrum, the a-team weighs in. >> and president's job czar has a healthy respect for government efficiency, at least in china, ge's ceo's stunning analysis of the communist economic and political system. record finds for wall street's money laundering bank of record, mexican drug cartels, middle east terrorists, african dictators all among hsbc's clientele, and no one is going to jail? why not? legal experts join us here next >> british banking giant, hsbc agreed to pay a record dollars 1.9 billion to settle allegations it landerred money from mexican drug lords, and sanctions transactions from iran illegally. lenny brewer said that the scale of hsbc's operation was stunning. >> at least one occasion, hsbc instructed a bank in iran on how to format payment messages so that
, but he is also wrong it is about money as well. big money, and power. lou: the fiscal cliff looks bleak, no news, no deal, no urgency. >> the american people have to be scratching their heads, and wondering when is this president going to get serious. lou: obama is serious about his ultimatum and demands to raise taxes, boehner said no new taxes, obama can have his tantrum, the a-team weighs in. >> and president's job czar has a healthy respect for government efficiency, at least in china, ge's ceo's stunning analysis of the communist economic and political system. record finds for wall street's money laundering bank of record, mexican drug cartels, middle east terrorists, african dictators all among hsbc's clientele, and no one is going to jail? why not? legal experts join us here next. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which inclus investment objectives, risks, charges an
have more breaking news on the fiscal cliff negotiations now. a senior white house aide confirms the obama administration is offering $1.4 trillion in revenue. you remember the previous offer by the white house was 1.6 trillion in revenue. so a little decline there but, no talk of spending right? we'll bring you more details as we have them. >>> the tragic death of dallas cowboys player is sparking debate how much control employers can imposed over their workers. over the weekend krou boys linebacker jerry brown was killed in a drunk driving accident with fellow teammate josh brent at the wheel. the cowboys are considering installing a device called safe-key in every player's car. it prevents cars from driving if the driver doesn't pass a visual hand-eye coordination test. the cowboys won't be the first organization to have rules. here at "money" we told you about it. ri health which fired 150 workers for not getting flu shots. the question is, are these kinds of rules fair to employees and are they even legal? here to figure this out is attorney nicole davord. thanks for coming
will see. robert, as always, thank you very much. dagen: a new development in the fiscal cliff talks. it could include an overhaul of the corporate tax code. with reaction, let's bring in congresswoman loretta sanchez. she is from the beautiful state of california. congresswoman, good to see you. are you on board with this? >> well, i will have to see the moving pieces before i make a decision on things. certainly, i always thought that if we could, we would put in corporate tax rates, not individual rates. we will see. we will see if the president and speaker boehner can come up with a deal. and, secondly, if speaker boehner has enough votes to have enough people vote for it. dagen: we have heard from senator harry reid once again. if the democrats do not get the tax increase on wealthy americans that he is willing to go over the cliff, the end of the year. we are awfully close. >> remember that congress always has the ability to set a new set of tax rates. even if we went through december 31 and these rates went away and everybody's taxes increased, honestly, some more than others,
about the fiscal cliff. now, we are back. what do you make of it? >> the jobs report was okay. there are some signs of very modest improvement in jobs. the good news is we have not really lost momentum and i will put that in the victory column. from a very short-term perspective, it is the fiscal cliff that is on everyone's mind. consumer sentiment is starting to decline. that suggested everyone seems to be focused on the fiscal cliff. when you are focused on uncertainty, what do you do, you do nothing. those are the major implementations for the economy. cheryl: i can hear the hesitancy in your voice. a lot of our guests are saying the same thing. they are afraid of what washington will do or maybe not do. your outlook is a bit more bullish than some of your colleagues. what are you saying in the second half of 2013 that others are not? >> on a very short-term basis, we have noticed there are a couple of things. the fiscal cliff. we cannot get out of the way of that. if you look at to the second half of 2013 that we can get some resolution, we may not like the total resolutio
and the house republicans not letting on their fiscal cliff stands. the fiscal cliff symbolizes time over tragedy. it will soon be a loss for many new york city commuters. but the tablet top your christmas wish list? we have the best of the best on "the willis report" coming up next can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is is trick to t my spot? [ male announcer break from the holiday stress. save on ground shipping at fedex office. heartburn symptoms causedelieve by acid reflux disease.y stress. osteoporosis-related bone fractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach condions may still exist. talk to your doctor about nexium. i have obligations. cute obligations, but obligatio.ming. i need to rethink th core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for e heart of your portfolio. f
. the fiscal cliff symbolizes time over tragedy. it will soon be a loss for many new york city commuters. but the tablet top your christmas wish list? christmas wish list? have before copd... i tk my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and that means...fishn! symbicorts for copd including chronic bnchitis and emphysema. it should not be taken more an twice a day. symbirt may increase your risk of lung infections, osteoporosis, d some eye problems. tell your doctor if you have a heart condition or hi blood pressure before taking it. with copd, i thought i'd miss our family tradition. now symbicort significantly improves my lung function, starting within 5 minutes. and that makes a difference in my breathing. today, we're ready for whatever swims our way. a
john boehner sent a counteroffer to president obama to fend off the fiscal cliff. in a response to an offer made by the white house yesterday, we go to rich edson from washington, d.c. with the latest. rich, any response from the white house on this? >> still working on that. aids say in exchhnge of proposals taken place, some movement, but still major differences between the white house and speaker's office. fox news reports the speaker and president just spoke on the phone. white house folks say there's a sign of movement. a senior house aide says the white house reduced the demand for tax revenue increases from $1.6 trillion to $1.4 trillion, well short of the latest republican offer of $800 billion, though, there is another offer on the table from republicans that the details are unknown. boehner spokesman says we acceptability the white house a counteroffer to achieve reform to solve the crisis. we're still waiting for the white house to identify which spending cuts the president is willing to make as part of the balanced approach. fox news is reporting senior white house o
have no fear of going over the fiscal cliff. >> absolutely not. we need a new tax code. that's absolutely the base thing we need to have. it should have lower rates. and it should come ultimately, tax reform does, by taking out all the junk in the code. david: the extraordinary thing he said exactly what pub puns republicans are calling for. it could end the skaubling. he said the following. this is his principles for tax reform from his budget in 2011. lower tax rates. the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. again, that is the compromise we're all looking for, quickly. >> well it is absolutely but let me take you back to where you started. that is we have the big increases in spending that seem to be in the budget right now. that is where really the other side on this debate wants to go. increase spending. they need increased revenues. why not go over the fiscal cliff where you get both of those? i think that's where we are headed, david, unfortunately. david: bill beach, director of her
'll be back in 15 minutes. tracy: tough new talk on the fiscal cliff. why house speaker boehner says president obama is deliberately pushing the country over it. ashley: all right. first look how the dollar is moving right now as we finish another week of trading. a mixed bag but the euro, pulling back against the dollar, below that 1.30 mark. we'll be right back. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedheahcare, i gohelp that fit my life. information on my phone. connection to doctors o get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're re than ,000 people looking out for so i never more than 70t. million americans. that's health in numbers. unitedhealthcare. can. >> at 19 minutes past the hour i'm arthel neville with your fox news minute. reuters reporting protesters broke through military barricades outside the presidential palace in cairo, egypt. late yesterday defiant president morsi calling for a dialogue but refused to bend on his controversi
. ashley: tough new talk on the fiscal cliff. americans are scratching their heads wondering when president obama will get serious. tracy: the president's reelection leaving small businesses weigh more pessimistic about the future. bill dunkelberg is here. we will ask him what, if anything, to boost confidence among america's job creators. ashley: time for stocks now as a do every 15 minutes. let's head down to the call petallides. nicole: this is a pretty good day on wall street. this is looking like the fourth week where we are seeing gains. we did hear from house speaker john boehner. he smoothed it over and gave the sense that they are working hard in washington in order to solve the fiscal cliff. also, the dollar is lower. that is playing a part. most of the dow components have been in the green. trip advisor. we are watching trip advisor. it has been rallying. what they are trying to do is get in there. it would be more about changing some management. liberty acquired the share. this is part of the action here we are seeing. off its earlier highs. back to you. ashley: thank you very m
individuals. these regulationspassed has thing to do, of course, with the fiscal cliff and everything to d with obamacare, including a almost 4 percent surtax on capital gains and dividends, plus almost 1 percent tax on the new tax is estmated to. generate threonine 117 billion over ten years, just about 12 percent of the two and a half trilon the budget committee estimatethe law will cost of that time. here we go. 2013 looks le an interesting, interesting yer. this year the mighty mississippi river lmost too shallow to even move barges, barges carrying food, fuel, other commoties. right now it is very difficult passage on the mississippi. warm weather, drought, the reason the army corps of engineers typically would be releasing more water into the river from the misuri allow one barges to pass fo another month so, but the missouri river is also dramatically lowered to be this means billions of dollars of commerce will have to find alternative means to get to maket. the midwest drought has increased the value. so much so there is a sharp increa in the theft of hay from fields. some farme
. the other night i left the fiscal cliff behind and took a walk through new york city. it was great. the lights, the christmas tree, rockefeller center, crowds of people with their children. was such a switch. "varney and company" will not walk away from the fiscal cliff but we will bring you the real america, the responsible america, the way it is and the way it ought to stay. i hope you all have a wonderful american weekend. test test. there is no mass-produced human. every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the world you'll find the extraordinarilcomfortable sleep number experience. an exclusive collectioof innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual warmth comforters. all designed around the sleep number bed: a bed with dual-air technology that alls you to adjust to the support your body needs. each of your bodies. in the name of human individuality: the sleep number collection. discover how our sleep
adviser, fox news political analyst. thank you all for being here. i have to start with this fiscal cliff that is being managed. i said at the beginning of this broadcast, this is unequivocally and solely the president's decision. it is his solution that will determine whether we go into a fiscal cliff. why is the republican party not getting that? >> well, i think they missed out on a big opportunity to own this argument. they missed out on it. mitt romney missed out on it during the presidential campaign. and it was missed out on this time around. a lot of conservatives are really hoping that he was going to dig his heels in on this issue and but for the proposal that was all right and ask and we could count on it and maybe do some of the pr and marketing to back that up so we can swing public opinion. >> except clearly that is not happening. >> let's move forward. hindsight. okay. mistakes were made. now what to do? a tour republican party sees this is a huge political game, why don't they do something about it? >> the republican party is going to get blamed. if you look at all of the
, because everything's overshadowed by the fiscal cliff. do you worry, like, inflation is going to come and bite us in the butt one of these days? i mean, there's a lot of moy out there. >> well, i watch that very, very carefully, and i don't think that's an immediate risk. in regard to the fiscal cliff, i think the right thing to do is to let the tax rates go up across the board, just like they agreed to do. i think we ought to have middle income americans as well as high income americans having a reduction of those tax rate cuts we saw. tracy: take more from my paycheck, let the fed put money into the system. does it make sense at the end of the day? shouldn't i keep my money, g out there and spend it and let the fed keep theirs? >> well, that's, you got a good point, and i agree that instabilit and monetary policy is not very effective, and so i' not looking for very much from the fed tomorrow. tracy: no, yao not alone, sir. wayne, former fed reserve governor, thanks for taking the time. >> you're welcom. tracy: all right. well, if you are fired up about this or any of theissues on t
the fiscal cliff. rich edson reporting from washington. thank you very much. liz: david, the news changes, and day-to-day, breaking news now, adam on dish. >> yeah, move over verizon, at&t, with the dish of dish if you want a new cell phone company. three of five fcc commissioners approved a rule change as of today, and it would allow support for the dish speck rum rule change for a wireless network. dish could then, perhaps, as sale at capacity for the u.s. market so the fcc, looks as if is clearing the way for dish. back to you. david: boy, a more ever-crowded market in the cell field. competition is good for consumers, not a bad thing. thank you very much. liz: washington, still, as you know, not coming to a solution on the fiscal cliff with the clock ticking louder than ever. coming up, we are joined exclusively by the former treasury secretary paul o'kneel and how he would solve the crisis. david: big labor taking a big hit, right it work bills sent to the governor's desk who is joining us live after the break. ♪ ins. i didn't see them coming. i have obligations. cute obligatis, bu
away from tree to be event, up 109 points. john boehner taking fiscal cliff talks and that is raising hopes among traders. cheryl: we are going to take a look at what is beyond the fiscal cliff even of washington save the country from going over that cliff we have a stock panel that has lots of worries and a bit of hope that. dennis: which makes some buzz codes when the dow is up 111. michigan's capital and besieged as protests over the right to work legislation has taken an ugly turn. we are live. cheryl: never know what is going to happen with jeff flock covering that story. we're coming up on the top of the hour. stocks every 15 minutes and nicole petallides on the floor of the stock exchange with a nice triple digit gain. nicole: what a gain on wall street. we have three straight weeks of gains to new recent highs. looking at 13,300 on the dow jones industrial, that is good and the s&p 500 calm, holding above the 1400 mark. they were worried when we were breaking down below and we are continuing the trend to the upside. one of the reasons is europe, europe has been a break out and
heart out. nicole petallides at the new york stock exchange. the dow up despite the fiscal cliff phobia. nicole: we have been selling off for a couple of days. the dow down 75 points. we had a little bit of room to snap back and move to the upside. the vix fear index has moved lower at the moment. moving things along as well. watching the banking index and the drug index with a perilous. the nasdaq composite still cannot squeeze out a gain. the dow has significantly improved up three quarters of 1%. i wanted to take a look at one of the bank stocks, citigroup streamlining and cutting out the excess under their new ceo. what we are seeing is they will cut about 4% of their workforce, 11,000 workers worldwide. that will bring in savings about $1.1 billion. this is streamlining and cutting out the excess. back to you. cheryl: nicole petallides, a busy day for that gentleman. we are joined by wells fargo managing director and senior bank analyst. you said in your note you would be surprised, you are surprised by the magnitude of this. you knew he would come in and make some changes. he did
by year's end to avert the fiscal cliff but nearly half do not think they will. that is according to this new poll released by the pew research center. let's get lou dobbs's take. he is gracious to join us at this time. >> great to be with you. how are you doing today? lori: doing well. melissa: you're so charming. lori: i get to sit next to him today. >> the fact of the matter is, that 40% is paying attention to president obama. he himself said, himself said, that he will, you know, he thinks two weeks really isn't adequate to do this thing correctly. let's just raise taxes. i mean the president himself is, he is a 40%. and he is a leader who is obviously not interested in reaching the conclusion before the end of this year. we're looking at some really, really sat efforts on the part of this white house and some outrage just demands and ultimatum. by the way i think the president has claimed this fiscal cliff for his own and i don't like quite understand why the national liberal media insists upon talking about, for example, 53% of those surveyed say it is going to be the republ
the fiscal cliff. speaker boehner, i think, is right to say that your ultimatum. you eat it, it's your deal. we will let it all play out. tracy: deep into the root of all this is political discord in general. but all everyone thinks about is the next vote. speaker boehner thinking about his reelection. no one is thinking about the bigger cause. it is really about those things. lou: i would agree with part of that. one thing the one thing people are forgetting, the best deal on the table, sequestration. point of fact. the $1.2 trillion in force budget cuts on the defense department. plus the bush tax cuts. it means we are approaching the 2 trillion-dollar shock to the system. it is the best deal in transit at maximum of maximum spending cuts. the president is talking about two to one. twice as much tax hike is spending cuts. this inverted, it's the best deal for the republicans, both parties and the president agree, and they can't win anybody if we go over the fiscal cliff because that was the deal that they made. tracy: yes, it is crazy. i'm sure you will be talking about it. when you have
should be in trouble with the law. is the season for giving, but don't let washington fiscal cliff talks cloud your judgment for finding the best cherries for your dope. our experts shares tips on what you need to know. we are on the case next on "the willis report". ♪ gerri: big changes coming to tech giant ibm that may change the way you ave for ♪ gerri: there is the story out there not getting a lot of attention today that you need to hear abou particularly if you care about your retirement. ibm overhauling its retirement program. instead of contributing to its employees 401(k) over time,he company will opt to contribute a lump-sum payment once per year. this may not sound like a big change, but the move undermines the very idea of retirement savings. look, the attraction of a fox business is the idea that you leveled out what you pay for in investments over time. stock prices go up, they go down, but over time you average out your risks and your cost. i call it dollar cost averaging. but with ibm's new plan, the advantage of its lead disappears. this would not be such a big deal,
forget what you're hearing to avoid the fiscal cliff, balance the budget and decrease the deficit. there is a new idea, new, being floated by a powerful group of democrats that claims to overhaul the tax code with a huge payoff. who wouldn't like that? the plan purports to raise an additional 1.8 trillion dollars over the next 10 years, that is 200 dal billion more than the president proposed andd3 trillion more than the republicans in congress support. we want to get to the bottom of it on "money." here to crunch the numbers, michael lind den from the center for american progress which is the group that devised the plan. we have mary katharine ham, fox news contributor. thanks to you both for joining us. michael, since you're one of the men behind the plan, i want to go to first. break it down for me. how do you get there? >> well the basic idea we'll simplify the tax code. we're going to get rid of some of the deductions that currently benefit, they more benefit high income individuals than middle income individuals. we'll turn those into credits that will be flatter and simper
. is the season for giving, but don't let washington fiscal cliff talks cloud your judgment for finding the best cherries for your dope. our experts shares tips on what you need to know. we are on the case next on "the ♪ [ male announcer ] how could switchgss in argentina, change engineering in dubai, aluminum production in south africa, and theerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidedence. request a prospectus or summary prospectus with investment information, risks, feesnd expenses to rd and consider carefully before investing. ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride get the mercedes-benz on your wish list at the wint event going on now through december 31st. [ santa ] hoho, ho! [ male announcer ] lease a 2013 e350 for $579 a month at your local merces-benz deale ♪ gerri: big changes coming to tech giant ibm that may change the way you save for ♪ gerri: tre is the story out
involved but the fiscal cliff conversation is kind of a watch and see. there is nothing new the horizon. the calendar is running against them, but that does not mean anything will actually get accomplished. liz: peter can't mak, make yourn what to buy. does not matter there is all this uncertainty, there's always a trade, always a play. make the case for why. >> the fed is supporting risk and the metals have had a great day today. frankly i love precious metals. that's a much industrial metals does we will be in for a tough play. especially december closing out in a negative despite the year-to-date performance which has the nasdaq you have to be all up very handsomely. in december closes to bee3 negative for the month due to effect next year is the first yeer in the presidential four year term we could have some very stiff headway. liz: you se said a metals did it beautifully. hold up half a percent for gold futures, high-grade up about a percent. decent data out of china. define beautifully. now we're back about 1700 for gold, but where does it go for here? >> you can see gold over th
all we have been fooled a couple times before but now you have the fiscal cliff. hanging over this entire sector. toll brothers ceo joining me now in a fox business exclusive from pennsylvania. i am so glad you are here because we could very easily say house business. but i'm assuming business is looking a lot better. my question to you is what is the number one indicator to you that your business is actually on a sustainable turnaround and we could be fooled again. speaspeaker they begin now untie are near the fiscal cliff. mortgage rates three and a quarter percent. buyers have been on the sidelines for five years and anxiously been waiting for better news, more consumer confidence to come back out. we had a great spring selling season. now we are selling into the winter. it all feels good. liz: that doesn't usually happen with this much muscle. are there any log jams, or our would-be buyers getting the credit they need to buy the homes? >> our clients can get mortgages. our buyers tend to put a lot more money down. they mortgage a lot less, very high credit ratings. we are
for certain things to trade off of today but the market has traded higher and will trend higher. fiscal cliff talks getting closer and closer to the deadline, both sides will realize they're running out of time i and the positive effect will come from that. nicole: you have said the trend remains to the upside. >> everybody will realize this is not going to help with the overall goal is going to be. we will get more information that will help the market. nicole: they're going to have to figure it out for all sponsored at the white house and he will figure it out. back to you. ashley: it wouldn't hurt. thank you very much. aig is selling 80% stake in the aircraft leasing business to a group of chinese financial firms for just over $4 billion. making that deal, china's largest acquisition of u.s. companies. the sales will help aig paid $180 billion government bailout, but is it a good deal t for the u.s. taxpayers? joining us now, president of the group, peter kaufman, thank you for being here. this is a good deal for the taxpayers? >> there are three points of this whole issue. the transaction
willing to go over the fiscal cliff. moody's chief economist, deutsche bank senior u.s. economist telling us just how much that will hurt the economy and the markets, and, of course, investors and everyone in this country in today's money lineup, news on the economy brought life to wall street today inspiring some investors, the news an unexpected increase in factory orders up for a second straight month, and the biggest gains in productivity in the third quarter in two years. business activity, along with new orders, showing their biggest gains last month since the first quarter. stocks finished off their highs. the dow up 83 appointments at the close. the s&p gaining 2.25, and the nasdaq under the weight and pressure of the biggest stock, apple, dropping 23 points. volume today rising to almost 4%.2 billion shares. app 8 stock, as i said, today, laggerred and immense weight on the mark. that stock fell 6.5%, $37, and concerned about the lack of new products on the horizon, concern increased competition in the market might force apple to cut margins to remain competitive that added up to
than $600 billion in tax increases and spending cuts kick in. the fiscal cliff potentially sending the economy into recession. the fear of the cliff. is that putting a veil over your eyes and pretending you seeing good news that could make better trades for your portfolio? you need to see the forest for the trees. to help do that, liz saunders in a fox business exclusive, charles schwab's vice president and chief investment strategist. what is the biggest mistake that the investor is making right now as it pertains to navigating that very rocky fiscal cliff landscape? >> they are trying to trade around perceived outcomes. that is fairly treacherous. we don't get a sense that a lot of investors are doing that -- [talking over each other] liz: there were buying in on the dips because they are trading around he headlines. >> there's a lot of tax related strategy happening right now, many of which make a lot of sense, but i have asked the question of loss, what would you put money on a particular outcome? i wouldn't. that is a dangerous strategy. >> one scenario could be as damaging a
, president obama, avoid anything real negotiating on fiscal cliff issue, president doubles the amount of tax hikes he campaigned on when he unveiled his initial proposal, then after weeks of negotiating with proxies in media, most recent offer cuts that number to $1.4 trillions. house speaker boehner told his caucus, both sides are not close on a deal to avoid the cliff, minority leader nancy pelosi ripping republican leadership from house floor in what can be described as a bizarre rant that ended with a compliment of the speaker. >> it really getting boring. it is smacks a little bit of nero, figure it out, we did. figure it out. then, go forward and continue to debate the issue. i believe he is a important of good intention, maybe that gets me into trouble my saying that. lou: to surprise of many in washington boehner appears to have support of more voters than anyone thought previously, a new fox poll shows 3 a 3 to 1 margin, voters believe by enacting mostly spending cuts is the best way to deal with the problem. president obama continue its push his ultimatum on higher taxes for wealth
are not are off of that level. american express leading the way. >> no deal to avoid the fiscal cliff, john boehner keeping the dialogue going and even trading new proposals but not stopping them from calling each other out. rich edson is in washington. >> that usually stops or pauses at the very least when there is progress. democrats and republicans have been stuck for weeks. the white house reduced its offer on tax increases for $1.6 trillion to $1.4 trillion including a willingness to begin corporate tax reform. republicans santa white house has to embrace significant spending cuts. >> during our budget we had no new revenue. look at the president's but he has $1.6 trillion worth of new revenue in his budget. we have been reasonable, responsible in our approach to this and we will continue to do that. time for the president to do his part. >> democrats say republicans have secured a one trillion dollars in spending cuts, part of last year's the deal and it is time to tax the wealthy. >> it is like a charlie brown cartoon. how many times, how many times is charlie brown going to try to k
if negottion go his way or if we go or the fiscal cliff, either way, america loses. not so fast, i think we have choices. that is it for us, thank you, we'll see you tomorrow night goodight from new york. neil: think fat cats are still angry at the president? t chance, what if i told you a lot of sucking up to the talk abo off the wall or ould i say off the wall street, welcome neil cavuto here, and charlie gparino had it right, there is no squirmier, bunch than those on wall street. they were throwing any money they had to make sure that barack obama would be a one term, but now all but core coreon core -- cronning him all some with betwnmperor a king. a growiumr of financial types figuring nowhat the president is in, best both ses sort things by caving in. on everything from higher taxes r t rich, that is fine. higher investment related taxes onveryone, have at it. more stimulus, why not why this folding like a cheap suit now? maybe because the financial suits figure to go along so just getlong. i think at electns have consequences, i did not think th wall street so quickly selling its fi
is coming back with a veeance. in 2013 regaress if wdrive off the fiscal cliff or not. it is force the nation's hardest workers believe itr not cough up more dough. the country's wealthiest put uncle sam competence fever. joining us now. the government made all his mistakes, so the really wealthy peoplean pay for it all. spk the whole point ist can fit the bill. we'll add $10 tllion of debt, doesn't obama taught no tax increases. we're talking cover the debt overhat time. it is not enough to prent a debt crisis down the line. tracy: we have seen it timand me again. thougthe ability to wealth if y have access to important pple. ey don't have to pataxes after all. >> people don't work as hard as ithey otherwise would have,on't take risks so don't get the growth have not raised taxes. i think that's what would happen if we went with president obama's plan. they come it wl not grow as fast as it wouldave. sptracy: inevitably our xes wi go up because the wealthy do not pay asuch as the thought. >> there's not enougrevenue at the top to fit the bill. they still need to get bk to where th
numbers reflect concern about the fiscal cliff as much as sandy, but they also just reflect the fact the economy's still growing, but growing slowly as it has been for basically three years now, and wii not going to get big reductions until something gets the economy energized again. gerri: growth at 93,000 jobs. that's not inspiring. that's worrying. that's not enough to get us going. >> you need something like 150,000 or 200,000 jobs -- gerri: or more. >> or more: we have rarely hit that in the last three years, only a few times, and on average, well below that. again, it comes down to the fact that i think people's expectations of what u.s. policy's going to be are dramatically affected by fear over higher taxes, regulation, spending that's not controlled, and so expect a slow growing economy which is exactly what we had, and i fear we'll continue to have that. gerri: right. not good news for anybody out there. reliable the numbers are now. remember, before the election, questions about how it was counted. were the numbers accurates lots and lots of revisions. do you feel we can t
. voters seem to favor the president. a new poll shows that 53% trust president obama to avoid the fiscal cliff compared to just 36% for republicans. let's bring in juan williams. he -- is it to make sure the republican take the blame for whatever happens? >> no. i will say this, the reason the president has been out campaigning is to amp up the politicallpressure on republicans and let them feel the heat from the public as a prospect that they would but taxes go up on everyone wheee there is a deal that would keep taxes down for 98% of the public. dagen: what about sticking to their guns? the president said he will not cut a deal without raising taxes on the wealthier americans. maybe they go off a little bit. is that a compromise that both sides would be willing to, well, eat? >> that is exactly the compromise that everyone around washington is discussing. the number that everyone is focusing on is the 37%. you also have, as part of that package, discussions about exactly how much, dagen, they would cut in terms of entitlement. dagen: secretary geithner caught in an interview that he ga
failed on that rally and shot up 1421 and sttrted to back off. the fiscal cliff is hanging on the market. as soon as you see john boehner talk for obama it doesn't matter. the market seems to come off of that news. traders have got to look out if there's a joint announcement, chances are they're close to a deal, we will see the market higher. look out for that. dave: let's get off of stocks and deal with oil. we see oil slipping a bit and you see a point at which you might stop and that is $84.50. that is the point we have got to look at coming in next week as the starting point for this drop. phil: we have come down to that range several times over the last few weeks and that is when you had highest level supply out there and you didn't really have much geopolitical risk. we start to come back to that mode so we will scale back to that level before things heat up in the middle east and we have supply crunches due to the cold weather ahead of us. >> next week we have the final fit meeting of the year. the jobs report and everything we have been seeing. phil: we will see the fed continue
taxes for the fiscal cliff or for debt ceiling, do you believe the will also raise taxes on middle class. 60% percent of americans understand that ce t politicians get the bloodlust out there, once they smell the bld in the water, oncehe raise taxes on the few, they go after the many. melissa: oh, i absolutely believe that's right but i think that theoint is the republicans are losing momentum on the side of not raising tas. that it is starting tofeel re and more like there must be some concession, there must be some caving to get through the fiscal cliff. when you look at senators who have said theye going back on the pledge, lindsey graham, bob corker, tom coburn, lamar alexander, eric cantor, what do you do at this point to keep the fight going? or do you thinkthat it is necessary to concede a little bit of ground? >> well, two things. the senators, e republican don't matter because thetent democratic senate can pass a tax increase if they want the senaaors you mentioned would only vote for a x increase if they g massive permant entitlement reforms of the kind that rry reid and the pr
the fiscal cliff. i don't know what shall is talking about. 14.3% if you make the millionaires new price range of $250,000, so, people are leaving. talk to a surgeon the other day, closed up shop, sold his house and is leasing a home in las vegas. he says he couldn't take it anymore. stuart: but this is a historic reversal. look i've been in america 40 years and started out in san francisco 40 years ago and back in those days, there was always a net migration into california, significant numbers. california gained tens of millions of people over my time in america, but that just recently has been completely reversed. now there's a net leaving of people. and that's historic in america, that's historic. >> it is historic. it is historic because you come here, as i said for the weather, but that's it anymore and there's no promise of a future. don't promise that you're going to be able to put down your stake and really do something with it. look at the head of facebook, one of the partners left not only the state of california, left the united states of america because of the taxes going on
much indeed. >> the so the president has made it very, very clear, drawn a line, no fiscal cliff deal without higher tax rates for the highest earningers, tax rates have got to go up. question, what will speaker boehner have to say about that? his reaction will be new at ten this morning. mark stein is going to be here as well and he'll join us to explore that and more. we have an oil and mining deal to tell, but. freeport mcmoran and copper and gold will have exploration and two separate deals for 9 billion in cash and stock. i'm not quite sure what all of that means. just tell me the stock price, nicole. >> it means big moves for these two stocks here. freeport mcmoran is now down over 15%, but when you look at plains exploration and production, a big mover to the upside and that's up 23. stuart: i'm trying to get this. freeport mcmoran, they're the ones that are doing the buying and plains exploration are the people who are being bought. so the people who are being bought go up because they're paying a high price and the people who are paying the money out are going down. have i go
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